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Forex Focus on UK and US Services and Composite PMI


Risk appetite has return to markets and European traders await the France Budget Balance due at 7:45GMT. UK Services and Composite PMI  will be out at 9:30, Eurozone PPI’s will be published at 10:00. The important New Zealand Dairy Prices will be published at 12:30.

In the American calendar, Trade Balance from Canada and USA will be released at 15.30GMT.  The US Services and Composite PMI will be out at 16:45 followed by JOLTS Job Openings and ISM Non-Manufacturing PMI due at 17:00.

In our central calendar at 9:00 ECB’s Villeroy speaks in Lyon, France also ECB’s Muller speaking on outlook for Euro area.  EU’s Barnier speaking at web summit in Lisbon at 1130 while FOMC Member Barkin speaks at 15:00GMT

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Asian equity indices are trading higher today; Nikkei is 1.76% higher at 23.251 while the Hang Seng trading 0.49% higher at 27,683. EURUSD trades 0.07% higher at 1.1135; the USDJPY is 0.25% higher at 108.84 while the AUDUSD is 0.09% higher at 0.6915.

The central bank of China set the Yuan rate (USDCNY) at 7.0385 versus yesterday settlement at 7.0305.Download our latest quarterly market outlook for our longer-term trade ideas.

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